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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of July 20. 1993 <br />TO: Honorable Mayor and City Council <br />FROM: Richard E. Acevedo, Finance Director <br />SUBJECT: Acceptance of City Audit Reports -- Fiscal Year 1991-92 <br />Date: June 23, 1993 <br />BACKGROUND: Part of federal regulations (Circular A-102, Executive Office <br />of the President, Office of Management and Budget) include a requirement <br />for the City to prepare financial statements and to submit the statements <br />for audit by an independent certified public accountant. <br />The firm of McGladrey and Pullen, CPAs, have rendered their opinions on the <br />following financial statements: <br />1. The City's general purpose financial statement as of and for the <br />year ended June 30, 1992. <br />2. The City's financial and compliance audit, commonly referred to <br />as the "single audit" of federal fiscal assistance granted to the City of <br />Colton during the fiscal year 1991-92. <br />3. The City's financial and compliance report on the Community <br />Childcare Program for funds received and expended during fiscal year 1991- <br />92. <br />DISCUSSION: Since these documents will become public records there is a <br />need for the Council to accept the reports and file them. <br />FINANCIAL IMPACT: None. <br />RECOMMENDATION: Staff recommends Council accept this staff report and <br />move to receive, accept and file the audit reports for 1991-92. <br />City Manager's Concurrence <br />Attachments: Copies of City Audits on file with City Clerk's Office <br />Page 1 of Item No. At <br />